Unbelievable!… Barack Obama Says We Can't Continue to Spend As if Hard-Earned Tax Dollars Were Monopoly Money
Note: President Obama said this on the same day that democrats spent $1.2 billion to bribe fellow democrats to vote for Obamacare!
From the Man who tripled the national deficit in less than one year we get a lecture on spending…
On the same day that democrats voted for the largest expansion of government in decades.
Obama says we can’t keep spending hard-earned taxpayer money like its Monopoly money.
Can we all agree now that this man has no conscience?
TIME Mag has the transcript:
When my administration walked through the door, the country faced a growing economic downturn as well as a deepening fiscal hole. Washington had passed massive tax cuts for the wealthy (producers) and an expensive new entitlement program without paying for any of it. Health care costs continued to rise, year after year. And little effort was made to cut wasteful spending. As a result, over the previous eight years, the national debt doubled — doubled. In January, the deficit stood at $1.3 trillion. And we had to make the difficult decision to add to the deficit in the short term to prevent the potential collapse of our economy.
But as I’ve said, in the long run, we can’t continue to spend as if deficits don’t have consequences; as if waste doesn’t matter; as if the hard-earned tax dollars of the American people can be treated like Monopoly money. That’s what we’ve seen time and time again. Washington has been more concerned about the next election than the next generation. It’s put off hard choices in spending bill after spending bill, budget after bloated budget.
By the way… Obama lied about the CBO estimate in his talk.
PRESIDENT OBAMA: “The Congressional Budget Office Now Reports That This Bill Will Reduce Our Deficit By $132 Billion Over The First Decade And By As Much As $1.3 Trillion In The Decade After That.” (President Obama, Remarks, 12/21/09) “CBO Has Discovered An Error” That “Reduces The Degree To Which The Legislation Would Lower Federal Deficits”
CBO: “The Congressional Budget Office (CBO) Has Discovered An Error In The Cost Estimate Released On December 19, 2009, Related To The Longer-Term Effects On Direct Spending Of The Manager’s Amendment To The Patient Protection And Affordable Care Act (PPACA), Senate Amendment 2786 in the nature of a substitute to H.R. 3590 (as printed in the Congressional Record on November 19, 2009). Correcting that error has no impact on the estimated effects of the legislation during the 2010–2019 period. However, the correction reduces the degree to which the legislation would lower federal deficits in the decade after 2019.” (CBO Director Doug Elmendorf, Letter To Sen. Harry Reid, 12/20/09, P. 1)
CBO: “A Detailed Year-By-Year Projection For Years Beyond 2019, Like Those That CBO Prepares For The 10-Year Budget Window, Would Not Be Meaningful Because The Uncertainties Involved Are Simply Too Great.” (CBO Director Doug Elmendorf, Letter To Sen. Harry Reid, 12/19/09, P. 15)
This news was released yesterday.
Surely the White House heard the news before Obama gave his speech.